By Jonathan Stempel

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission agreed to settle a lawsuit that accused an exchange run by billionaire twins Tyler and Cameron Winklevoss of failing to register a cryptocurrency asset lending program before offering it to retail investors.

In a letter filed on Monday in Manhattan federal court, lawyers for the SEC and the exchange now known as Gemini Space Station said the settlement in principle would “completely resolve” the lawsuit over Gemini Earn, subject to approval by the commission.

The lawyers asked U.S. District Judge Edgardo Ramos to give them until December 15 to submit final paperwork, and to put all deadlines on hold.

Neither the SEC nor Gemini’s lawyers immediately responded to requests for comment.

The settlement was

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